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    MG   CA5592224011

MAGNA INTERNATIONAL INC.

(MG)
  Report
Delayed Toronto Stock Exchange  -  04:32 2022-11-30 pm EST
82.83 CAD   +1.21%
11/29Volkswagen Said Planning Scout Brand Revamp With Foxconn, Magna
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11/29Volkswagen in talks with Foxconn over plant for Scout vehicles - Automobilwoche
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11/29Correction on Ticker: -- Magna Brief: Says to display future-ready solutions at CES 2023
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TSX falls as investors eye financial market volatility

09/29/2022 | 04:30pm EST

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TSX ends down 207.08 points, or 1.1%, at 18,441.84

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Linamar slides 11.6%; Magna ends 3.9% lower

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Technology falls 2.9%

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Shopify loses nearly 8%

Sept 29 (Reuters) - Canada's main stock index on Thursday gave back some of the previous session's sharp gains as the shares of two major auto suppliers declined and investors weighed recent volatility in global currency and debt markets.

The Toronto Stock Exchange's S&P/TSX composite index ended down 207.08 points, or 1.1%, at 18,441.84, after posting on Wednesday its biggest one-day advance in more than four months.

For the month, the index was on track to fall 4.6%, while it was headed for its second straight quarterly decline.

Wall Street also fell on Thursday as investors worried that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy.

"It's a very fluid situation with a lot of geopolitical concerns, earnings, and interest rates," said Brandon Michael, senior analyst at ABC Funds in Toronto. "Investors are on edge a little bit here, but we have reason to be optimistic getting into October."

"Many investors are viewing the parabolic moves in yields in the U.S. dollar to be unsustainable and emblematic of a blow off top," Michael added.

The consumer discretionary sector lost 2.1%, with Linamar Corp and Magna International falling 11.6% and 3.9% respectively.

Scotiabank trimmed its price targets on the two companies, saying a likely recession in 2023 and higher energy prices in Europe may lead to lower sales volumes of auto makers and component manufacturers, and pose headwinds to margins.

Technology shares fell 2.9% as e-commerce giant Shopify Inc fell nearly 8% to post its lowest closing level since June 2019.

Canadian energy infrastructure firm Enbridge Inc said it has acquired U.S.-based renewable energy developer Tri Global Energy (TGE) for $270 million and assumed its debt. Enbridge's shares ended 1.4% lower.

Heavily-weighted financials fell 1.1% and utilities were down 2.6%. (Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan; Eby Uttaresh.V and Alistair Bell)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENBRIDGE INC. 0.05% 55.55 Delayed Quote.12.37%
LINAMAR CORPORATION -0.26% 66.03 Delayed Quote.-11.88%
MAGNA INTERNATIONAL INC. 1.21% 82.83 Delayed Quote.-20.04%
SHOPIFY INC. 10.04% 40.88 Delayed Quote.-70.32%
All news about MAGNA INTERNATIONAL INC.
11/29Volkswagen Said Planning Scout Brand Revamp With Foxconn, Magna
MT
11/29Volkswagen in talks with Foxconn over plant for Scout vehicles - Automobilwoche
RE
11/29Correction on Ticker: -- Magna Brief: Says to display future-ready ..
MT
11/29Magna to Take CES 2023 by Storm With Latest Tech for a Better World of Mobility
GL
11/29Magna to Take CES 2023 by Storm With Latest Tech for a Better World of Mobility
AQ
11/23Citigroup Downgrades Magna International to Neutral From Buy
MT
11/23Correction On Ticker: -- Magna Brief: BNN TV Also Cites Citi As Say..
MT
11/23Correction on Ticker: -- Magna Brief: Downgraded To Neutral From Bu..
MT
11/17MAGNA INTERNATIONAL INC. : Ex-dividend day for
FA
11/10Magna international - tsx accepts notice of intention to make normal course issuer bid
AQ
More news
Analyst Recommendations on MAGNA INTERNATIONAL INC.
More recommendations
Financials (USD)
Sales 2022 37 767 M - -
Net income 2022 1 140 M - -
Net Debt 2022 2 615 M - -
P/E ratio 2022 15,2x
Yield 2022 2,94%
Capitalization 17 490 M 17 490 M -
EV / Sales 2022 0,53x
EV / Sales 2023 0,50x
Nbr of Employees 170 000
Free-Float 99,9%
Chart MAGNA INTERNATIONAL INC.
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Magna International Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends MAGNA INTERNATIONAL INC.
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 61,19 $
Average target price 80,68 $
Spread / Average Target 31,8%
EPS Revisions
Managers and Directors
Seetarama Kotagiri Chief Executive Officer & Director
Vincent J. Galifi President
Patrick W. D. McCann Chief Financial Officer & Executive Vice President
Robert F. MacLellan Chairman
Paul Bellack Vice President-Information Technology
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